Michigan Laws 500.1291 – Classification of travel insurance; inland marine line of insurance; eligibility and underwriting standards
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 500.1291
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Travel insurance: means that term as defined in section 1202. See Michigan Laws 500.1283
- Travel protection plans: means plans that provide 1 or more of the following:
(i) Travel insurance. See Michigan Laws 500.1283
(1) Notwithstanding any other provision of this act, travel insurance is classified and must be filed for purposes of rates and forms under an inland marine line of insurance. However, travel insurance that provides coverage for sickness, accident, disability, or death occurring during travel, either exclusively or in conjunction with related coverages of emergency evacuation or repatriation of remains, or incidental limited property and casualty benefits such as baggage or trip cancellation, may be filed by an authorized insurer under either an accident and health line of insurance or an inland marine line of insurance.
(2) Travel insurance may be in the form of an individual, group, or blanket policy.
(3) Eligibility and underwriting standards for travel insurance may be developed and provided based on travel protection plans designed for individual or identified marketing or distribution channels, if those standards also meet this state‘s underwriting standards for inland marine.